Oppenheimer Cuts Modine Manufacturing (NYSE:MOD) Price Target to $260.00

Modine Manufacturing (NYSE:MOD) had its target price trimmed by Oppenheimer from $300.00 to $260.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the auto parts company’s stock.

Several other equities research analysts also recently issued reports on the company. KeyCorp restated an “overweight” rating and issued a $280.00 price target on shares of Modine Manufacturing in a report on Wednesday, September 2nd. B. Riley Financial reiterated a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. DA Davidson reissued a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research note on Tuesday, September 29th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.86.

Modine Manufacturing Trading Down 0.0%

Shares of NYSE MOD opened at $178.15 on Friday. Modine Manufacturing has a twelve month low of $111.18 and a twelve month high of $323.25. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of 66.97, a P/E/G ratio of 0.58 and a beta of 1.71. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The company’s fifty day moving average is $192.02 and its 200-day moving average is $230.80.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The business had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. Equities research analysts predict that Modine Manufacturing will post 7.65 EPS for the current year.

Institutional Trading of Modine Manufacturing

A number of institutional investors have recently modified their holdings of MOD. BlackRock Inc. bought a new position in shares of Modine Manufacturing during the second quarter worth about $765,540,000. Capital Research Global Investors lifted its stake in Modine Manufacturing by 13.8% in the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after acquiring an additional 179,617 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new stake in Modine Manufacturing in the 2nd quarter valued at approximately $388,140,000. Janus Henderson Group PLC boosted its position in Modine Manufacturing by 2,249.9% during the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after acquiring an additional 501,229 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new position in Modine Manufacturing during the 2nd quarter worth approximately $123,873,000. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company’s products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.